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Tuesday, Feb 03, 2004

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Konkan Rly to seek VC funding for Sky Bus project

Our Bureau

Mumbai , Feb. 2

KONKAN Railway is seeking to raise venture capital funding for its Sky Bus project. The Konkan Railway Managing Director, Dr B. Rajaram, is scheduled to make a presentation in Bangalore on Wednesday to a delegation of 20 venture capitalists from the US that is currently touring India.

Mr Raj Jaswa, President-elect, The Indus Entrepreneurs (TIE), said it would be possible to offer the entire amount demanded by Konkan Railways for the project.

Another Government undertaking, the Indian Space Research Organisation (ISRO) will also meet the delegation to discuss commercial possibilities for its projects. The delegation, comprising US firms and cross-border companies, will gain an appreciation of the country and its business and entrepreneurial environment.

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